Levin Capital Strategies L.P. Acquires 6,000 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Levin Capital Strategies L.P. has significantly increased its stake in Procter & Gamble Company by 75.4%, now holding 13,961 shares worth approximately $2.38 million.
• Procter & Gamble's quarterly earnings report showed an EPS of $1.48, surpassing expectations, with revenue up 1.7% year-over-year.
• The company announced a dividend of $1.0568 per share, payable on August 15th, reflecting a 2.8% yield.

Levin Capital Strategies L.P. lifted its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 75.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,961 shares of the company's stock after purchasing an additional 6,000 shares during the quarter. Levin Capital Strategies L.P.'s holdings in Procter & Gamble were worth $2,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Empower Advisory Group LLC increased its stake in shares of Procter & Gamble by 2.1% in the 1st quarter. Empower Advisory Group LLC now owns 869,676 shares of the company's stock valued at $148,210,000 after acquiring an additional 17,911 shares in the last quarter. Costello Asset Management INC increased its stake in Procter & Gamble by 1,666.9% in the 1st quarter. Costello Asset Management INC now owns 5,548 shares of the company's stock valued at $946,000 after buying an additional 5,234 shares during the last quarter. Commonwealth Retirement Investments LLC increased its stake in Procter & Gamble by 2.0% in the 1st quarter. Commonwealth Retirement Investments LLC now owns 29,940 shares of the company's stock valued at $5,102,000 after buying an additional 579 shares during the last quarter. Advyzon Investment Management LLC lifted its position in shares of Procter & Gamble by 1.7% during the 1st quarter. Advyzon Investment Management LLC now owns 6,682 shares of the company's stock worth $1,139,000 after buying an additional 110 shares in the last quarter. Finally, New Age Alpha Advisors LLC grew its holdings in shares of Procter & Gamble by 73.1% in the first quarter. New Age Alpha Advisors LLC now owns 79,126 shares of the company's stock valued at $13,485,000 after acquiring an additional 33,413 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company's stock.

Procter & Gamble Trading Up 0.0%

NYSE:PG traded up $0.06 during midday trading on Friday, reaching $153.55. 5,810,954 shares of the stock traded hands, compared to its average volume of 8,221,504. The stock has a market capitalization of $359.67 billion, a P/E ratio of 23.59, a PEG ratio of 4.03 and a beta of 0.37. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70. The company has a fifty day moving average of $158.59 and a 200 day moving average of $163.74. Procter & Gamble Company has a 12 month low of $149.91 and a 12 month high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.06. The company had revenue of $20.89 billion for the quarter, compared to analysts' expectations of $20.79 billion. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. Procter & Gamble's quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $1.40 earnings per share. On average, research analysts predict that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble's dividend payout ratio (DPR) is currently 64.82%.

Analysts Set New Price Targets

A number of brokerages recently commented on PG. Royal Bank Of Canada upgraded Procter & Gamble from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $164.00 to $177.00 in a report on Friday, April 25th. Truist Financial decreased their price objective on shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a report on Friday, April 25th. Piper Sandler lifted their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Wells Fargo & Company reduced their price objective on Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Finally, Raymond James Financial lowered their target price on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Procter & Gamble currently has an average rating of "Moderate Buy" and a consensus target price of $175.88.

Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.